Odd... Somewhere on this Island, a chest just popped up.
Find and loot the chest.
Loot and Tips
The chest will have a torch beside it, so it may be easier to find at night. The chest will contain items based on the event's level.
There is an issue with this event where it completes when you enter the island or are looking for it. That happens because something caused the destruction of the chest. If you are lucky (and fast) enough it's still possible to find the items.